www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Policy Watch

PBOC sets sights on 'zombie' financing vehicles

By Zheng Yangpeng (China Daily) Updated: 2014-01-18 08:00

PBOC sets sights on 'zombie' financing vehicles
The People's Bank of China said in an online statement on Thursday that it will "exhaustively clean up" local government financing vehicles that "have poor credit, ambiguous functions and unsustainable financial conditions". [Photo / Provided to China Daily]

The People's Bank of China has reiterated its resolve to root out "zombie" local government financing vehicles this year and ensure that urbanization funding moves through standard market channels.

The central bank said in an online statement on Thursday that it will "exhaustively clean up" local government financing vehicles that "have poor credit, ambiguous functions and unsustainable financial conditions".

These vehicles are separate agencies created by local governments to finance massive spending on highways, stadiums or public works. Their creation followed the 2008 stimulus program that helped China rebound quickly from the global financial crisis and subsequent economic downturn.

But analysts now believe that many LGFVs can't cover their debt payments. These entities were set up in haste, without any thought given to profitability, and the projects they backed don't generate sufficient revenue to make loan payments.

"The PBOC statement is more symbolic than substantive, and it's not the first time it said it will clean up LGFVs," said Li Yan, a senior analyst at China Chengxin International Credit Rating Co Ltd. "I assume specific rules will follow the pledge."

The central bank's statement was in line with that of the National Development and Reform Commission, which on Dec 31 said it will allow debt rollovers in an effort to avoid defaults by LGFVs.

Both statements were seen as confirming the belief that a growing number of LGFVs face repayment difficulties and will have to roll over their debt.

The NDRC's announcement came just one day after the National Audit Office's disclosure that China's local government debt and contingent liabilities had surged to 17.89 trillion yuan ($2.93 trillion) by the end of last June. That figure represented a 67 percent rise from previous audit results from the end of 2010.

Debt raised by LGFVs accounted for 39 percent of total debts, the NAO said.

Previous Page 1 2 Next Page

...
...
主站蜘蛛池模板: 亚洲欧美极品 | 91成人在线播放 | 99re7在线精品免费视频 | 欧美一级xxxx俄罗斯一级 | 日韩欧美一区二区三区免费观看 | 国产东北色老头老太性视频 | 国产日本韩国 | 午夜日韩 | 日本高清va不卡视频在线观看 | 成人欧美视频在线观看播放 | 日一区二区 | 午夜一级毛片不卡 | 国产成人在线播放视频 | 欧美日本综合一区二区三区 | 日本九九视频 | 国产精品久久久久无毒 | 美女毛片在线看 | 欧美一区二区二区 | 国产成人亚洲综合网站不卡 | a级毛片毛片免费观看永久 a级毛片毛片免费很很综合 | 中文成人在线 | 国产在线观看网址在线视频 | 香蕉一区二区三区观 | 女人张开腿男人捅 | 亚洲男人精品 | 日韩在线 | 中文 | 免费看a级毛片 | 欧美一区二区二区 | 97国产影院| 日韩一及片 | 成人欧美视频 | 五月天激激婷婷大综合蜜芽 | 女人张腿让男桶免费视频网站 | 无码精品一区二区三区免费视频 | 欧美三级做爰全过程 | 成年人网站免费在线观看 | 久久久久久综合一区中文字幕 | 美女一级免费毛片 | 久久亚洲国产午夜精品理论片 | 国产一级一级一级成人毛片 | 国产精品拍拍拍福利在线观看 |